Awards build the Company’s core Singapore subsurface utility business as its shareholder-approved US$258.8 million acquisition of Rantizo’s drone-based technology assets advances toward closing  SINGAPORE, Aug.  19,

SKK Holdings Awarded Six New Horizontal Directional Drilling and Utility Works Contracts in Singapore Valued at Up to US$26.6 Million (S$34.1 Million)

SKK Wins Six HDD Contracts in Singapore as Rantizo Acquisition Advances

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Awards build the Company’s core Singapore subsurface utility business as its shareholder-approved US$258.8 million acquisition of Rantizo’s drone-based technology assets advances toward closing  SINGAPORE, Aug.  19,</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>SKK Holdings’ subsidiary SKK Works secured six HDD and utility contracts in Singapore totaling up to US$26.6 million, signaling a robust core business backdrop ahead of the planned Rantizo asset acquisition. The US$258.8 million transaction remains contingent on Nasdaq approvals and other closing conditions, but completion would reshape SKK into a blended civil engineering and drone-technology platform, potentially expanding long-term growth and revenue mix.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>SKK Works won six HDD/utility contracts in Singapore.</li><li>Aggregate value up to US$26.6m (S$34.1m).</li><li>Six awards from separate Singapore customers. Includes telecom operator and statutory board.</li><li>Rantizo acquisition valued US$258.8m; closing dependent on Nasdaq listing.</li><li>Post-close, name change to Rantizo. Marianne McInerney to be President.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>SKK Holdings Limited (SKK)</strong>: Primary issuer; six Singapore HDD contracts bolster core subsurface utility business ahead of Rantizo close.</li><li><strong>SKK Works Pte. Ltd.</strong>: Subsidiary awarded six contracts; will execute HDD and HDPE pipe installation in Singapore.</li><li><strong>Rantizo, Inc.</strong>: Target of US$258.8m asset purchase; will hold equity and nominate directors post-close.</li><li><strong>Marianne McInerney</strong>: Appointed President upon closing; governance changes align with Rantizo tie-up.</li><li><strong>Nasdaq</strong>: Closing contingent on listing approval for additional SKK shares; regulatory risk.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>Category: Corporate Developments with a M&amp;A angle. The piece centers on SKK&#039;s strategic pivot via the Rantizo acquisition while highlighting immediate operational momentum from Singapore HDD contracts.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Six HDD/utility contracts in Singapore widen near-term backlog.</li><li>Rantizo asset acquisition valued at US$258.8m advances toward closing.</li><li>Closing contingent on Nasdaq listing of additional shares; regulatory risk remains.</li><li>Name change to Rantizo and new leadership could alter strategic focus.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Six new contracts for HDD and utility works awarded to SKK Works in Singapore.</li><li>Aggregate value of awards up to US$26.6 million (S$34.1 million).</li><li>Five fixed-price subcontracts total ~US$19.6 million; sixth ~US$7.0 million.</li><li>Rantizo acquisition valued at US$258.8 million; consideration includes cash and new SKK shares.</li><li>Disclosed closing conditions include Nasdaq listing approval and other regulatory clearances.</li><li>extraordinary general meeting on Jun 22, 2026 approved the Rantizo transaction and related actions.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over the next 6–12 months on backlog growth and Rantizo closing, with dilution risk.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify"><b><i>Awards build the Company’s core Singapore subsurface utility business as its shareholder-approved US$258.8 million acquisition of Rantizo’s drone-based technology assets advances toward closing</i></b></p>  <p align="justify"><strong>SINGAPORE, Aug.  19, 2026  (GLOBE NEWSWIRE) -- </strong>SKK Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SKK">SKK</a>) ("SKK Holdings" or the "Company"), a civil engineering service provider specializing in subsurface utility works in Singapore, today announced that its wholly-owned operating subsidiary, SKK Works Pte. Ltd. ("SKK Works"), has been awarded six new contracts for horizontal directional drilling ("HDD") and utility works in Singapore. Together, the awards carry an aggregate value of up to approximately US$26.6 million (S$34.1 million) — the largest block of new work the Company has announced to date and a direct reflection of the strength of its core subsurface utility business and its long-standing position in Singapore’s public infrastructure market.</p>  <p align="justify">The six awards were granted by separate Singapore-based customers. Five are fixed-price subcontracts with an aggregate value of approximately US$19.6 million (S$25.2 million), awarded by multiple building and civil engineering contractors and by a leading telecommunications network operator in Singapore, for the supply and installation of HDD works. The sixth is a fixed-price subcontract valued at approximately US$7.0 million (S$8.9 million) for utility works in connection with a project of a Singapore statutory board.</p>  <p align="justify">HDD is a trenchless installation method that allows underground utilities — including pipes, conduit and cables — to be installed along a controlled underground path with minimal surface disruption, making it well suited to dense urban environments such as Singapore. SKK Works’ scope across the six awards encompasses preliminary works, procurement, mobilization, and the supply and installation of HDPE pipes and related works, performed in compliance with the applicable specifications of each customer.</p>  <p align="justify">"These awards extend the work we have done in Singapore’s subsurface utility sector for more than a decade and deepen our relationships with a demanding, blue-chip customer base," said Sze Koon Kiat, Chief Executive Officer of SKK Holdings. "The telecommunications work gives us a multi-year platform to deliver HDPE pipe installation at scale through HDD, alongside utility repair and rehabilitation services."</p>  <p><b>A Growth Platform Built on an Operating Business</b></p>  <p align="justify">The awards announced today are being executed against the backdrop of the most consequential transaction in the Company’s history. As previously announced, on May 1, 2026 SKK Holdings entered into a definitive asset purchase agreement with Rantizo, Inc. ("Rantizo") to acquire substantially all of Rantizo’s drone-based technology assets used in agricultural spraying, seeding and monitoring for agriculture, forestry, emergency response and other commercial applications. The Acquired Assets are being acquired at a valuation of approximately US$258.8 million, supported by an independent third-party valuation, in exchange for US$759,047 in cash and newly issued Class A ordinary shares of the Company.</p>  <p align="justify">At an extraordinary general meeting held on June 22, 2026, SKK Holdings shareholders approved the asset purchase agreement, the issuance of the consideration shares, a tenfold increase in the Company’s authorized share capital, the adoption of amended memorandum and articles of association providing for Rantizo board nomination rights, and a change of the Company’s name to Rantizo in connection with the closing. Upon closing, Rantizo will hold a substantial equity position in the Company and will have the right to nominate two directors to the board, and Marianne McInerney will join as President. Completion of the transaction remains subject to the satisfaction of the remaining closing conditions, including approval by Nasdaq of the listing of additional shares.</p>  <p align="justify">"The Rantizo transaction is the defining chapter in this company’s story, and it will reshape what SKK Holdings is and what markets we compete in," said Mr. Sze. "But a growth platform is worth far more when it is built on top of a business that is winning and delivering work today. That is exactly what these six awards represent. Shareholders should read this announcement as evidence that the operating foundation underneath the Rantizo transaction is getting stronger, not standing still."</p>  <p align="justify">The contract awards announced today are independent of the Rantizo transaction and do not modify its terms or conditions. SKK Works will continue to operate and perform its subsurface utility engineering work in Singapore following completion of the transaction, and the Company expects the civil engineering business to remain a contributor to consolidated results alongside the drone-based technology platform.</p>  <p><b>Currency Translation</b></p>  <p align="justify">For the convenience of readers, certain Singapore dollar (S$) amounts in this press release have been translated into U.S. dollars (US$) at an exchange rate of S$1.00 = US$0.78, the approximate rate in effect on August 19, 2026. These translations are provided for reference only and should not be construed as representations that the Singapore dollar amounts could have been, or could be, converted into U.S. dollars at that or any other rate. Actual U.S. dollar amounts realized will vary with prevailing exchange rates.</p>  <p><b>Forward-Looking Statements</b></p>  <p align="justify">This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the aggregate value, scope, duration and expected revenue contribution of the contract awards described herein; the Company’s expectations for its subsurface utility business; the anticipated completion of the previously announced transactions with Rantizo, Inc.; and the Company’s expectations for its business and operations following completion of those transactions. Words such as "anticipates," "believes," "expects," "intends," "will," "may" and similar expressions are intended to identify forward-looking statements.</p>  <p align="justify">These forward-looking statements are based on current expectations and assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to: the risk that contract awards may be varied, delayed, reduced in scope, suspended or terminated by customers, and that the amounts ultimately realized may differ materially from the aggregate values described in this release; project execution, cost, labor, equipment, subcontractor, site condition and scheduling risks; the timing of work performed and of revenue recognition across reporting periods; customer payment and credit risk; fluctuations in the Singapore dollar / U.S. dollar exchange rate; the ability of the parties to satisfy the remaining closing conditions of the Rantizo transactions, including approval by Nasdaq of the listing of additional shares and applicable regulatory clearances; the possibility that the transactions may not close on the anticipated timeline or at all; risks associated with the Company’s ability to integrate and operate the Acquired Assets; dilution to existing shareholders resulting from the issuance of consideration shares; the Company’s continued ability to comply with Nasdaq’s listing requirements; market conditions affecting the Company’s shelf registration statement and at-the-market offering; the competitive dynamics of the drone-based technology and commercial drone services markets; and the other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. SKK Holdings undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.</p>  <p><b>About SKK Holdings Limited</b></p>  <p align="justify">SKK Holdings Limited is a Cayman Islands-incorporated company publicly traded on the Nasdaq Capital Market under the ticker symbol "SKK." Through its operating subsidiaries, SKK Holdings is a civil engineering service provider that specializes in subsurface utility works in Singapore, seeking to plan, construct and maintain public works and infrastructure projects that serve society and the environment. The Company has over 10 years of experience providing civil engineering services to customers in Singapore across numerous public utility projects, including power and telecommunication cable laying works, water pipeline works and sewer rehabilitation works. Upon closing of the previously announced transactions with Rantizo, Inc., SKK Holdings will also operate the acquired drone-based technology platform for agriculture, forestry, emergency response and commercial applications.</p>  <p><b>About Rantizo, Inc.</b></p>  <p align="justify">Rantizo, Inc. is a Delaware corporation headquartered in Houston, Texas, whose drone-based technology assets are used in agricultural spraying, seeding and monitoring across agriculture, forestry, emergency response and other commercial applications.</p>  <p><b>PR &amp; Media Contact:</b></p>  <p>Phoenix MGMT &amp; Consulting<br></br><a href="https://www.globenewswire.com/Tracker?data=Wk3O9hu56Ki_WwRJuK-AUkImRU3sM2ARbfRj8ijP6861q_MGs3AgfeH0feay__-PMbhfvZglUg9RJy-7K1zQMghLSG1qPy1W3wF1rjeAF5Wem4De_o1ykJ0x8Snw7L-VNJVUuUf2kSdjpp2qdJkY4w==" rel="nofollow" target="_blank">Press@PhoenixMGMTConsulting.com</a><br></br>888-228-0122</p>  <p align="center"><b># # #</b></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxMjY5MiM3NzgzNzEwIzUwMDEzNTEzMA=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NzE5YzIwNGEtNDIyMS00YjQzLThhZGItMWY5ZmM0MmQzZmQ4LTUwMDEzNTEzMC0yMDI2LTA4LTE5LWVu/tiny/SKK-Holdings-Limited.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/bf2510d5-2899-4850-b62f-b3a22ae65e42"><img src="https://ml.globenewswire.com/media/bf2510d5-2899-4850-b62f-b3a22ae65e42/small/screenshot-2-jpg.jpg" border="0" width="150" height="141" alt="Primary Logo"></img></a></p>

SKK Holdings’ subsidiary SKK Works secured six HDD and utility contracts in Singapore totaling up to US$26.6 million, signaling a robust core business backdrop ahead of the planned Rantizo asset acquisition. The US$258.8 million transaction remains contingent on Nasdaq approvals and other closing conditions, but completion would reshape SKK into a blended civil engineering and drone-technology platform, potentially expanding long-term growth and revenue mix.

News insight

SKK Holdings Awarded Six New Horizontal Directional Drilling and Utility Works Contracts in Singapore Valued at Up to US$26.6 Million (S$34.1 Million)

AI summary

Sentiment rationale

Key facts

M&A